FISCAL NOTE
Date Requested: February 13, 2017 Time Requested: 01:43 PM |
Agency: |
Motor Vehicles, WV Division of |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
1434 |
Introduced |
HB2386 |
|
CBD Subject: |
Motor Vehicles |
---|
|
FUND(S):
road fund
Sources of Revenue:
Special Fund
Legislation creates:
A New Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to exempt recipients of the distinguished Purple Heart medal from payment of the vehicle registration fee for West Virginia residents.
For Fiscal Year 2016 there were 2,048 Purple Heart recipient plates registered with the Division of Motor Vehicles. The Division of Motor Vehicles receives $28.50 for each registration. Each license plate is produced at a cost or $5.80. Eliminating the annual registration fee will create a revenue loss of $58,368.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2017 Increase/Decrease (use"-") |
2018 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
0 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
0 |
0 |
2. Estimated Total Revenues |
-58,368 |
-58,368 |
-58,368 |
Explanation of above estimates (including long-range effect):
2,048 Purple Heart Registrants
$ 28.50 Registration Fee
$ 58,368 Revenue Loss
Memorandum
Person submitting Fiscal Note: Raeann Kriner
Email Address: raeann.k.kriner@wv.gov